A fifth director at Newell Brands has left the board as the company faces mounting pressure from activist investors including Carl Icahn, a source with direct knowledge of the situation said.

Kevin Conroy, a former Metro-Goldwyn-Mayer president, resigned in the last few days from the Hoboken, NJ-based maker of Rubbermaid containers, Elmer’s glue and Coleman camping equipment, the source said.

Franklin, Ashken and L’Esperance were all former directors of Jarden, which merged with Newell in April 2016. Conroy is not connected to Jarden.

Newell shares have plunged roughly 40 percent since the merger, catching the attention of activist investor Jeff Smith of Starboard Value, which has 4 percent stake in Newell.

“It is an extraordinary step for three directors, who collectively have decades of relevant industry experience, to simultaneously resign from a public company board of directors,” Smith said in a February letter to Newell’s board — prior to L’Esperance and Conroy’s exits.

The exits of Franklin, Ashken, and de Sole were announced on Jan. 25 — the same day Newell announced its intention to shed non-core assets such as Rawlings baseball gloves, Goody hairbrushes and US Playing Cards.

Starboard believes the announcement was made in haste to take attention away from the company’s poor performance.

“We strongly urge the company to table all major divestiture decisions — unless the company is absolutely certain of both the strategic rationale and value creation,” Smith said in the February letter.